1 Mar 2019substantial holder notice● Neutral
Cimarex Energy Co reported no remaining CIMAREX ENERGY CO shareholding in its periodic institutional filing.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
26 Feb 2019substantial holder notice● Neutral
Cimarex Energy Co reported a CIMAREX ENERGY CO shareholding of 1,202,458 shares (5.15% of votes) in a periodic institutional filing.
14 Feb 2019business combination● Neutral
Cimarex filed supplemental disclosures to the Resolute merger proxy statement, adding detail on Resolute's sale process and its advisers' analyses. Resolute contacted 13 industry participants, four signed confidentiality agreements, and only Cimarex made a proposal. Goldman Sachs's fee is estimated at about $7.5 million. The deal terms are not changed, and the Resolute vote is still pending.
11 Feb 2019substantial holder notice● Neutral
The Vanguard Group reported a CIMAREX ENERGY CO shareholding of 10,272,012 shares (10.74% of votes) in a periodic institutional filing.
7 Feb 2019debt financing▲ GoodMajor
On February 5, 2019 Cimarex replaced its October 2015 revolving credit agreement with an amended and restated one. The lender commitment rises from $1 billion to $1.25 billion, and the maturity moves from October 16, 2020 to February 5, 2024, resolving the open question about the 2020 expiry. Interest is LIBOR plus 1.125% to 2%, depending on credit ratings, or a base-rate alternative. JPMorgan remains administrative agent and Wells Fargo is syndication agent. The filing does not say how the facility will be used.
4 Feb 2019substantial holder notice● Neutral
BlackRock, Inc reported a CIMAREX ENERGY CO shareholding of 6,484,622 shares (6.80% of votes) in a periodic institutional filing.
30 Jan 2019securities registration● Neutral
CIMAREX ENERGY CO filed the final prospectus for a registered offering.
10 Jan 2019business combination● Neutral
Cimarex filed an amended registration statement (Amendment No. 1) for the Resolute merger. It sets a Resolute shareholder meeting for February 22, 2019 (record date January 18, 2019) and now says Resolute's former holders would own about 6.8% of Cimarex, up from the 5.6% in the December filing. The terms (cash $14.00 plus 0.2366 shares, $35.00 cash, or 0.3943 shares; 60% stock / 40% cash proration) are unchanged. It is still preliminary, and the vote is still outstanding.
14 Dec 2018business combination● Neutral
Cimarex filed the registration statement (S-4) for shares to be issued in the Resolute merger, up to 6,510,315 common shares plus 62,500 shares of new 8 1/8% preferred stock to replace Resolute's preferred one for one. Total consideration is prorated to 60% Cimarex stock and 40% cash, and Resolute's former holders would own about 5.6% of Cimarex after closing. This is a preliminary filing; the Resolute shareholder vote and other conditions are still outstanding.
27 Nov 2018substantial holder notice● Neutral
Cimarex Energy Co disclosed a new substantial CIMAREX ENERGY CO shareholding (25.90% of votes).
20 Nov 2018business combination● NeutralMajor
This filing gives the formal terms of the Resolute merger agreement signed November 18, 2018. Resolute holders can elect $14.00 plus 0.2366 Cimarex shares, $35.00 in cash, or 0.3943 Cimarex shares per share. Closing needs Resolute shareholder approval, antitrust clearance and an effective S-4. The outside date is July 18, 2019 (extendable to October 18, 2019 for regulatory clearances), and Resolute owes Cimarex a $35.9 million termination fee in specified cases and $7.5 million of expense reimbursement if its holders vote the deal down.
19 Nov 2018business combination▲ GoodMajor
Cimarex announced a deal to acquire Resolute Energy Corporation for $35.00 per Resolute share in cash and stock, about $1.6 billion in total including Resolute's $710 million of long-term debt at September 30, 2018. The company says it adds 21,100 net acres in Reeves County and 35 MBOE/D (45% oil) of production, and expects it to add to 2019 earnings per share and cash flow per share. It needs Resolute shareholder approval and other conditions to close.
7 Nov 2018quarterly activities report● Neutral
CIMAREX ENERGY CO reported quarterly revenue of $591.5 million and net income of $148.4 million for the period ended 2018-09-30.
6 Nov 2018quarterly activities report● Neutral
CIMAREX ENERGY CO reported quarterly revenue of $591.5 million and net income of $148.4 million for the period ended 2018-09-30.
6 Nov 2018quarterly activities report● Neutral
CIMAREX ENERGY CO reported quarterly revenue of $591.5 million and net income of $148.4 million for the period ended 2018-09-30.
4 Sept 2018asset acquisition disposition● NeutralMajor
The Ward County sale to Callon announced in May closed on August 31, 2018. The price was adjusted down from $570.0 million to $544.5 million after defects were resolved, and Cimarex received $510.1 million at closing after accounting for Callon's $28.5 million deposit and $5.9 million of post-effective-date net revenue and expenditures. Final settlement with any other adjustments is due within 120 days of closing.
7 Aug 2018quarterly activities report● Neutral
CIMAREX ENERGY CO reported quarterly revenue of $556.3 million and net income of $141.0 million for the period ended 2018-06-30.
7 Aug 2018quarterly activities report● Neutral
CIMAREX ENERGY CO reported quarterly revenue of $556.3 million and net income of $141.0 million for the period ended 2018-06-30.
24 May 2018material agreement● NeutralMajor
Cimarex agreed on May 23, 2018 to sell its oil and gas properties mainly in Ward County, Texas to Callon Petroleum Operating Company for $570 million in cash. The properties produce about 6,831 barrels of oil equivalent per day (73% oil); Cimarex said the remaining Wolfcamp opportunities there have not competed for capital against its other projects. Closing is expected in the third quarter of 2018.
8 May 2018quarterly activities report● Neutral
CIMAREX ENERGY CO reported quarterly revenue of $567.1 million and net income of $186.3 million for the period ended 2018-03-31.
8 May 2018quarterly activities report● Neutral
CIMAREX ENERGY CO reported quarterly revenue of $567.1 million and net income of $186.3 million for the period ended 2018-03-31.
8 Feb 2018substantial holder notice● Neutral
The Vanguard Group reported a CIMAREX ENERGY CO shareholding of 10,141,811 shares (10.64% of votes) in a periodic institutional filing.
29 Jan 2018substantial holder notice● Neutral
BlackRock, Inc reported a CIMAREX ENERGY CO shareholding of 7,075,793 shares (7.40% of votes) in a periodic institutional filing.
26 Jan 2018director interest notice● Neutral
CIMAREX ENERGY CO insider Harold R Logan Jr. sold 845 shares at $83.50.
16 Jan 2018director interest notice● Neutral
CIMAREX ENERGY CO insider Hans Helmerich gifted 4,525 shares.
2 Jan 2018director interest notice● Neutral
CIMAREX ENERGY CO CEO and President Thomas E Jorden sold 2,500 shares at $122.88.
15 Dec 2017director interest notice● Neutral
CIMAREX ENERGY CO Executive VP, COO Joseph R Albi sold 2,000 shares at $112.41.
15 Dec 2017director interest notice● Neutral
CIMAREX ENERGY CO CEO and President Thomas E Jorden sold 5,000 shares at $113.14.
15 Dec 2017director interest notice● Neutral
CIMAREX ENERGY CO SVP-Exploration John Lambuth sold 13,000 shares at $113.74.
14 Dec 2017director interest notice● Neutral
CIMAREX ENERGY CO Executive VP, COO Joseph R Albi sold 1,000 shares at $113.75.